WeissLaw LLP: Neff Corporation Acquisition Is the Subject of a Legal Investigation

NEW YORK, July 18, 2017 /PRNewswire/ -- The fairness of the proposed acquisition of Neff Corporation ("NEFF" or the "Company") (NYSE: NEFF) by H&E Equipment Services Inc. ("HEES") (NASDAQ: HEES) is the subject of an investigation by WeissLaw LLP, a national class action and shareholder rights law firm.  The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of NEFF for agreeing to sell the Company to HEES.  On July 14, 2017, the Company announced a definitive agreement for HEES to acquire NEFF in a transaction valued at approximately $1.2 billion.  Under the terms of the agreement, NEFF shareholders will receive $21.07 in cash for each NEFF share they own. 

WeissLaw is investigating whether NEFF's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, the offer price provides the Company's shareholders with virtually no premium over NEFF's July 13 trading price of $20.02.  Additionally, the Company recently announced a 5.3% year-over-year increase in rental revenue and a 7% year-over-year increase in total revenue in the first quarter of 2017. 

Moreover, according to the acquisition announcement, the deal will "nearly double the number of [HEES] branches, from 78 to 147, within [HEES]'s existing footprint in the strategically important Gulf Coast, Mid-Atlantic, Southeast and West Coast regions." 

Given these facts, WeissLaw is investigating whether the NEFF Board acted in the best interests of NEFF's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with HEES.  If you own NEFF shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/neff-corporation/

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SOURCE WeissLaw LLP